TUI Group has revealed plans to raise at least €350 million in fresh funding as the company seeks to whether the ongoing impact from the Covid-19 pandemic. The new bonds will fall due in 2028.
Customers will have an additional 1,500 hotels to choose from in 62 favourite hotspots, giving more choice for their long-awaited break, whether they prefer a short, mid, or long-haul getaway.
Tui Group has confirmed it will close a further 48 shops across the UK as the Covid-19 pandemic continues to hit the travel sector. The locations of the shops was not revealed.
TUI River Cruises has again extended the delay in its launch. The first customer sailing will now be onboard TUI Skyla on June 28th from Budapest.
The travel industry has broadly welcomed a roadmap for the lifting of Covid-19 restrictions in the UK, with some companies already reporting a surge in bookings.
Chief executives from leading UK-based airlines have added their voices to calls for the prime minister to ensure an aviation recovery roadmap is announced next week.
Due to travel restrictions around the world, the hospitality giant also saw losses of €699 million on an adjusted basis for the first three months of the year, compared to a loss of €147 million last year.
Marella Cruises has extended its pause in European operations until March 31st, while long-haul trips are not now expected to return until at least April 30th.
Leo Burnett will handle all aspects of the TUI brand in Europe, spanning creative output and strategy across the UK, Germany, France, the Nordics and Benelux.
Virgin Holidays has become the latest travel firm to cancel holidays after new Covid-19 lockdown restrictions were imposed in part of the UK, joining Tui, Thomas Cook and Jet2.
TUI Group has finalised a €1.8 billion financing package led by the German government as the company battles the fallout from the Covid-19 pandemic.
The travel giant said it would not operate departures from the airport until December 30th at the earliest, when restrictions are due to be reassessed.